NetDimensions (Holdings) Limited (LON:NETD) jumped 21% as it received a 100p cash bid from e-learning group Learning Technologies Group (LON:LTG).
The offer values the software group at £53.6mln and is another plank in Learning Tech’s strategy to build an international e-learning business of scale.
Shares in NetDimensions rose to 95p while LTG, which fund the deal through a placing at 37.5p, eased lower.
ECR Minerals PLC (LON:ECR) was another late riser as it said drilling will start at Bailieston in Victoria once the licence transfer to ECR subsidiary Mercator Gold Australia (MGA) has been completed.
In addition, ECR has applied to renew the Avoca project exploration licence, while it is waiting on applications for two other licences in Victoria.
Craig Brown, ECR’s chief executive, said Bailieston project is not only in close to two large operating gold mines but has a history of producing high-grade material from underground workings.
Shares rose 13% to 1.24p.
1pm...Johnston Press rallies on signs of stability
Venerable newspaper group Johnston Press plc (LON:JPR) is doing its best to prove there is a role for print in a digital age.
The publisher of the Scotsman, Yorkshire Post and more recently the i newspaper said trading has steadied after a difficult summer.
Revenues still fell by 6% fall in the year to December, as costs from imported paper and ink rose due to weakness in the pound after June’s Brexit vote.
Ashley Highfield, Johnson Press’s chief executive, said: "Despite the challenging print market, we have seen some improvement in our markets during the fourth quarter.”
Highfield and Johnston Press are under pressure from activist investor and 20% shareholder Crystal Amber, but it must have happy with today’s 11% share price hike to 17.5p.
On a quieter than normal day for small caps, it was some of the larger listed groups that took centre stage.
Opioid addiction specialist Indivior PLC is worth well over £2.2bn and added a few more pounds to its value after a review from broker Cantor Fitzgerald.
“While we believe that execution on the pipeline has been mixed, the core opioid addiction franchise has performed well with market share holding up.”
While the broker believes Indivior need to strengthen its portfolio, it sees signs of longevity and has a 'hold' rating and 300p price target.
Shares rose 4% to 316p.
10.00am ... Cyber crime fear buoys insurer Beazley
A growing fear of cyber crime is providing a boost to underwriter Beazley (LON:BEZ).
The insurer twinned with Munich Re in 2016 to underwrite large scale cyber risks and business is booming.
“The cyber market continues to grow and evolve rapidly,” it said as it rewarded shareholders with a special dividend after what it said was a very strong performance in 2016.
The combined ratio/underwriting profit stayed very strong at under 90% (anything less than 100% is a profit), while premiums rose by 6%.
Earnings per share were 48.6c (48.8c) and assets grew to 268.2c (263.9c).
The special is 10p per share and takes the total for the year to 20.5p. The shares rose 8.7% to 444p.
Czech Republic-focused European Metals Holdings Ltd (LON:EMH) was today’s lithium winner after a bullish drilling update from Cinovec.
Hole CIW-22, on the Main section, recorded the drill programme’s best intersection so far at 0.54% Li2O over a width of 264.5m. In addition, the hole contained significant tungsten, tin, niobium and tantalum.
EMH added it had also started the process of applying for a mining permit. Shares rose 7.6% to 42.5p.
Zamano Plc (LON:ZMNO) is to wind down its business after admitting defeat following regulatory changes to the way mobile phone operators charge for content.
The Payforit initiative put a dent in the company’s UK business and now it seems Ireland, the company’s home market, is considering introducing similar rules.
The impact of regulatory changes will prevent the company from maintaining a cash flow positive trading position, it said.
Becoming a shell looks likely to be the net result, though Zamano added it would endeavour to return as much as cash as possible to shareholders.
Shares fell 26% to 3.5p.